KAMPALA
NCBA Bank Uganda has unveiled a new vehicle financing initiative in collaboration with Motorcare Uganda, the authorized dealer for Nissan vehicles. The campaign, titled “Drive Your Dream Today,” aims to make brand-new vehicle ownership more attainable for individuals and businesses through flexible and affordable financing options.
Running for the next three months, the program offers financing of up to 100% for zero-mileage vehicles, with customers eligible for discounted pricing on a range of new models. Clients can either access full financing or contribute just 10% of the vehicle’s invoice value as equity. NCBA is offering these financing packages in both Uganda Shillings and U.S. Dollars, with competitive interest rates.
Mark Muyobo, CEO of NCBA Bank Uganda, noted that the bank is offering a two-month repayment grace period to give buyers room to adjust financially. “This offer helps customers step into vehicle ownership without placing undue pressure on their cash flow,” he said. “We’re giving our clients the chance to drive off in a new car with zero mileage, no processing fees, and manageable repayments.”
The financing terms include repayment periods of up to six years, with loan structures customized to suit varying income levels and business needs. To further reduce ownership costs, customers will enjoy subsidized comprehensive insurance and discounted vehicle pricing directly through Motorcare Uganda.
A notable component of the program is its emphasis on supporting electric vehicle (EV) adoption. Buyers of EVs will benefit from even lower financing rates, in line with NCBA’s strategy to expand green financing and promote environmentally friendly mobility options.
Targeting income earners with a monthly salary of UGX 5 million and above, the initiative is expected to attract individuals looking to upgrade their transportation as well as businesses aiming to expand their fleets. NCBA aims to finance over 100 vehicles during the promotional period.
“This initiative is a strategic part of our goal to become Uganda’s leading asset financing bank,” Muyobo added. “It’s not just about selling cars; it’s about empowering customers with options that support long-term financial health and sustainability.”
Florence Ssempebwa Makada, Managing Director of Motorcare Uganda, highlighted the environmental benefits and market potential of the campaign. She pointed out that only about 3,000 of the roughly 22,000 vehicles sold annually in Uganda are brand new, with the majority being used imports—many of which contribute significantly to air pollution.
“Our goal is to shift at least 30% of that used-car market—around 7,000 vehicles—toward new, more efficient models,” she explained. “With competitive pricing, 100,000 kilometers of free servicing, and unmatched reliability, this offer makes more sense than investing in a high-mileage used car with no guarantees.”
The program is also expected to boost activity across related sectors, including vehicle dealerships, insurance, and after-sales services—while reinforcing NCBA’s growing influence in the asset financing space.